Marx in the news

On Monday there was an article in the U.S. News and World Report on why Politicians aren't able to help create real jobs for those who are unemployed. This article comes out just when the Obama administration projected that unemployment rate would fall steadily in the next for years. It also explains as to why jobs are harder to come back to nowadays as oppose to the “downturn” in unemployment in the past few decades, which in those times, jobs would be returned quickly after the recession. The reason why U.S. is more unstable and dealing with a difficult task in creating more jobs is, because in 1972 and 1982 the U.S. Economy “less globalized and more self-contained.”

It was very at that time for foreign companies to compete with those of the Americans. And once the recession ended the previous decades, employers were simply hired again and the economy went back to normal. This article illustrates how Marx system doesn't necessarily work in the U.S. economy because of its instability. Job losses have been increasing ever since the economy has been bad and advisors are now having trouble seeing what will be coming next. The younger and older people are looking for jobs to help support their families, which results them to work at any job and at any wage or salary. Marx states that the competition between workers when employment is suffering. With the U.S. Economy struggling to come back, and mind you it is taking a little while to do so, we see how this effects everyone in the U.S. in some way or form.